Pharma BD Deal Intelligence

Bristol-Myers Squibb Company / Cormorant Pharmaceuticals AB

2016 · Acquisition/Merger · $520M · Complete

Announcement Sentiment

Positive

BMS acquired Stockholm-based Cormorant Pharmaceuticals for up to $520M (undisclosed upfront cash plus contingent milestones tied to pipeline progression). Gained full rights to HuMax-IL8, an early-to-mid-stage anti-IL-8 antibody in development as a single agent and in combination with other immuno-oncology drugs. Genmab originally licensed HuMax-IL8 to Cormorant.

Did it work? Outcome assessment

Strategic verdict

Too Early

Financial impact

Neutral

Pipeline outcome

Mixed

Assessment window: 5yr post-close.

Key facts

Announced Jul 05, 2016
Closed Jul 05, 2016
Deal value $520M
Deal type Acquisition/Merger
Therapeutic area Solid tumors and rare diseases (immuno-oncology)
Indications Solid tumors and rare diseases (immuno-oncology)
Key assets HuMax-IL8 (anti-IL-8 monoclonal antibody)
Mechanism Anti-interleukin-8 (IL-8) monoclonal antibody

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